> You can't deny the fact that in the last decade, greeks have become accustomed to a certain life style that can no longer be maintained.
The point of the article is that the 'moral hazard' of lending and borrowing cuts both ways. What about the lifestyle of European bankers & elites? The lifestyle of elites was funded by their reckless lending, buying up "idiot paper" left and right (not just Greece). They believe themselves entitled to collect high-interest rents regardless of the risk which is priced into the interest rate!
To stretch an analogy, it'd be like Venture Capitalists blaming the startups for failing to earn returns on their investments.Rather than take responsibility for making risky investments, they demonize startup founders and employees, and threaten to break their legs until they pay back the firm.
Its "loan-shark theatre" between governments and central banks, with politicians stoking nationalist sentiment and stereotypes (as politicians do) in the service of elites (i.e. the creditors). Maybe you should read the article, instead of asserting "undeniable facts" (p.s. the greek economy has been in a worsening great depression for the last decade; and your handful of gamer acquaintances are a non-representative sample).
The point of the article is that the 'moral hazard' of lending and borrowing cuts both ways. What about the lifestyle of European bankers & elites? The lifestyle of elites was funded by their reckless lending, buying up "idiot paper" left and right (not just Greece). They believe themselves entitled to collect high-interest rents regardless of the risk which is priced into the interest rate!
To stretch an analogy, it'd be like Venture Capitalists blaming the startups for failing to earn returns on their investments.Rather than take responsibility for making risky investments, they demonize startup founders and employees, and threaten to break their legs until they pay back the firm.
Its "loan-shark theatre" between governments and central banks, with politicians stoking nationalist sentiment and stereotypes (as politicians do) in the service of elites (i.e. the creditors). Maybe you should read the article, instead of asserting "undeniable facts" (p.s. the greek economy has been in a worsening great depression for the last decade; and your handful of gamer acquaintances are a non-representative sample).